Causes of Poverty and its Solution

Our country is in the evil grips of economic problems. But poverty has become the most critical economic issue in ‘United States’. This problem is a major hurdle in the way of advancement. It is not only effecting us in term of economic but also creating many social problems. Let discuss the causes, effects and solution of poverty.

Causes of Poverty:

First of all, the poor governance system and the lack of will are two main causes of poverty. The people at the helm of affairs are not willing to address the problem of poverty. Therefore, they do not provide any solution. Rather they are part of the problem. They are not serious at all in uprooting this problem. Instead they are promoting it through their poor governance.

Secondly, wrong polices of successive governments are also a big causes of poverty. The polices of governments should be formed for the welfare and well-being of the general public. But here rulers pursue their persona al interest and motives. They do not have any interest to making the country stable in economic sense.

Thirdly, the role of international monetary agencies like IMF and World Bank in running our economy is also a major cause f it. Because of corruption and poor governance system major part of our resources is going into drain. To meet the budgetary deficit, our governance go to IMF and international monetary agencies for leading. So, they impose their own conditions. These conditions serve the interests of capitalist countries. These conditions are regarding devaluations of local currency, down-sizing, more taxes on local industry and abolition of subsidies on different articles of daily usage. Interestingly they impose these conditions in the name of abolition of poverty and economic reforms programs, but these steps promote inflation, poverty, corruption, tax evasion, smuggling, unemployment and dearness.

“I do not mind going back to daylight saving time. With inflation, the hour will be the only thing I’ve saved all years.” (Victor Borge)

Poverty Solution/Remedies:

If we take remedial measures, after knowing its roots causes, we will be able to abolish this dire problem. Then we will be able to win all kind of laurel. In this way, we can achieve the goal of economic prosperity.

To address the problem of poverty, we will have to take multidimensional steps, on different levels. First of all, we must improve our governance system. But before doing this, we need will, because determination is the basic thing before doing anything.

Secondly, we must give right direction to our directionless and misdirected policies. Personal agenda and motives must be kept aside. Policies must be formed for the well-being of the people. The people in power should also rectify themselves. Lastly, we must get rid of the evils grips of IMF and other leading agencies. We will have to formulate independent economic policies. These policies must serve our national interests.